Metro Station II

About Metro Station II

Cushman & Wakefield has been retained on an exclusive basis to arrange the sale of Metro Station II, a fully approved 110-unit multifamily development site at 2701 and 2765 East 11th Avenue in Hialeah, Florida. The site comprises two contiguous rectangular folios totaling 25,944 square feet of net area (0.60 acres) and 38,552 square feet of gross area (0.89 acres), with approximately 275 feet of frontage on East 11th Avenue and secondary frontage on East 27th Street.

The property is zoned TOD, Transit Oriented Development District, and sits within the City of Hialeah Transfer Station subdistrict. Density in the district is computed against gross site area rather than net site area. That single provision is what supports 110 units on a 0.60 acre parcel, a ratio no conventional Hialeah lot reproduces and no assemblage creates outside the district boundary. The approved program runs at 124.29 units per gross acre against a 125-unit ceiling, which places it effectively at the cap.

The buyer acquires a project rather than a parcel. An eight-story zoning study has been completed by Modis Architects and is available in the data room: two levels of structured parking, six residential levels, 110 units averaging 697 square feet, 76,671 square feet of leasable residential area, a 2,000 square foot ground floor lobby and amenity space, and a 2,700 square foot amenity suite at Level 8. Drawings, consultant time and design coordination have already been absorbed by ownership.

The unit mix is deliberately attainable: 23 studios at 495 square feet, 64 one-bedrooms at 729 square feet and 23 one-bedroom plus den plans at 810 square feet. Comparable studio plans across the set are achieving $1,867 to $2,080 in effective rent and comparable one-bedroom plans $2,176 to $2,411, against a Hialeah / Miami Lakes submarket effective rent of $2,289. Hialeah outperforms higher priced Miami submarkets because its rent basis is reachable for the local workforce, and a building at this location competes on price and transit access rather than finish level.

The property is offered on a fee simple basis and is being marketed without a published asking price. Interested parties are asked to submit indications on a per approved unit basis by the call for offers date.